28.12.202117:16 Forex Analysis & Reviews: XRPUSD short-term technical analysis.

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XRPUSD made a lower high and a lower low creating a short-term bearish channel. XRPUSD is now below $0,90 and is vulnerable to a move towards $0.83.

Blue lines- bearish channel

XRPUSD has formed a bearish channel and price is making lower lows and lower highs. There is downside potential for a move close to the lower channel boundary. This scenario is cancelled if price breaks above the recent high of $0.9533. If this happens, then we should expect XRPUSD to push even higher, above $1.01. Until then price is vulnerable to more downside.

Alexandros Yfantis
Analytical expert of InstaForex
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